How do we track subleases? What system manages the master lease and the sublease in one view?

Yes. If your goal is one view showing the master/head lease and every sublease beneath it, you want a lease-administration system with an explicit parent/child (master → sublease) relationship, not two unrelated lease records.

Best fits

• Visual Lease — probably the cleanest fit for this specific requirement. It supports tracking master leases, subleases, obligations, critical dates, and financial information in one platform.
• MRI Software / ProLease — stronger choice for larger or more complex portfolios. ProLease explicitly supports real-estate leases and subleases, along with lease accounting and administration.
• Accruent Lucernex — particularly relevant if you need the sublease formally tied to a master contract. Lucernex requires the master contract to be selected when creating the sublease and supports passing payment responsibilities from the master contract to the sublease.
• Oracle Property Manager — a good option if you're already an Oracle customer. Oracle explicitly models the original lease as the master lease and the subsequent agreement as the sublease.
• Infor Lease Accounting — has a very explicit head-lease/sublease structure: you select the Head Lease when creating the sublease, and the system requires the sublease to end no later than the head lease.

What I would want the screen to look like

Property → Master Lease → Sublease(s)

| Master Lease | Sublease --- | --- | --- Counterparty | Landlord | Subtenant Your role | Lessee | Sublessor Term | 2025–2035 | 2027–2032 Rent | $X paid | $Y received Space | 50,000 SF | 20,000 SF Expiration | 2035 | 2032 Critical dates | Master notices | Sublease notices Document | Original lease | Sublease Relationship | Parent | Child

The really important part is that the system understands the relationship. For example, it should be able to answer:

“Show me everything under Master Lease #123.” …and return the master lease, its amendments, the 20,000-SF sublease, sublease income, dates, obligations, and documents together.

It should also flag a situation where the sublease extends beyond the master lease. Systems such as Infor explicitly enforce that relationship.

My recommendation

If you're specifically evaluating systems for master lease + sublease in one view, I'd start with:

1. Visual Lease — best fit for straightforward lease administration and visibility. 2. MRI ProLease — best if you have a larger/complex CRE portfolio and need robust accounting. 3. Lucernex — worth looking at if the master-contract/sublease relationship and payment pass-throughs are central to your workflow.

If you tell me what you're using today (Excel, Yardi, MRI, SAP, Oracle, NetSuite, etc.), I can compare the best options specifically for your workflow and show you what the master/sublease data model should look like.

Tracking a master lease and its corresponding sublease in a single, cohesive view requires specialized lease administration or corporate real estate (CRE) software that supports parent-child or hierarchical lease relationships. When you have a master lease (the primary agreement between the property owner and the tenant/intermediate landlord) and a sublease (the agreement between that tenant and the subtenant), managing them separately in spreadsheets creates severe blind spots, compliance risks (like ASC 842 or IFRS 16), and cash-flow mismatch errors.

How to Track Subleases Effectively

- **Obligation/Expense:** What you owe the primary landlord under the master lease.
- **Revenue/Income:** What the subtenant owes you under the sublease.

Systems That Manage Master Leases and Subleases in One View

Enterprise-grade corporate real estate and lease accounting platforms provide relational database structures allowing you to view a master lease and its child subleases on a single dashboard or property record:

• Visual Lease : Highly regarded for tracking complex real estate contracts, parent-child lease setups, and automated compliance reporting where subleases directly tie back to the primary master agreement.
• CoStar Real Estate Manager : An enterprise solution designed for portfolio management that handles the relational hierarchy between master leases, subleases, and third-party occupancies.
• MRI Software : Offers robust commercial management and lease tracking capabilities where you can map secondary and tertiary lease arrangements against the primary asset.
• Yardi (Corom or Voyager) : Enterprise corporate real estate platforms that link tenant spaces, master lease obligations, and subtenant billing contracts into unified operational views.
• LeaseAccelerator : Built for enterprise asset and lease management, optimizing the visibility of complex sublease networks and accounting treatments under strict regulatory frameworks.

To help narrow down the best platform or tracking method for your situation, let me know:

• Are you managing this from the tenant's perspective (you rented a space and are subleasing a portion out) or the landlord's perspective?
• Do you need strict lease accounting compliance (ASC 842 / IFRS 16) integration, or purely operational tracking?

Yes. If the goal is to track a master/head lease and the sublease as one connected relationship, you want a lease-administration system with a parent/child lease structure, rather than two unrelated lease records.

Best fits

• Visual Lease — probably the cleanest fit. It explicitly supports keeping master leases, subleases, and other lease types in a single subledger/source of truth.
• MRI Software / ProLease — stronger if you're managing a large, complex commercial real-estate portfolio.
• Black Owl Systems — particularly interesting if the emphasis is lease accounting; it supports multiple levels of subleases.
• Oracle Property Manager — a good option if you're already an Oracle ERP customer; Oracle supports property sublease contracts, billing, and lease schedules.
• SAP Contract and Lease Management — worth considering if SAP is already your financial backbone; SAP explicitly supports lease-in, lease-out/sublease, and intercompany sublease accounting.

What the "one view" should look like

I'd structure it as:

Property → Master Lease → Sublease(s)

| Master lease | Sublease --- | --- | --- Counterparty | Landlord | Subtenant Term | 2025–2035 | 2027–2032 Rent | $500K | $250K Space | 50,000 SF | 20,000 SF Escalations | Yes | Yes Options | Renewal/break | Renewal/break Critical dates | Master dates | Sublease dates Cash flow | Rent out | Rent in Document | Original lease | Sublease agreement

The critical feature is the relationship between the two records. For example, if the master lease is amended or its expiration changes, you should immediately be able to see which subleases are affected. Systems such as Infor explicitly require a sublease to be tied to a "head lease" and prevent the sublease from extending beyond it.

If you're doing ASC 842, the accounting side matters too: the entity is generally both a lessee on the head lease and a lessor on the sublease, so the system needs to handle both positions.

My shortlist would be Visual Lease first, MRI/ProLease second, and Black Owl if accounting is the primary concern.

If you tell me what you're using today (e.g., Yardi, MRI, SAP, Oracle, NetSuite, Excel) and roughly how many master/subleases you have, I can tell you which system gives you the closest true "master lease + sublease in one screen" experience.

Tracking master leases alongside their corresponding subleases requires a system that understands hierarchical or parent-child lease relationships . Without this, you run into severe blind spots—such as billing mismatches, missed expiration alignments (where a sublease accidentally extends past the master lease), or compliance failures under modern lease accounting standards (like ASC 842 or IFRS 16).

How to Track Subleases (The Operational Framework)

1. Establish a Parent-Child Link: The master lease must be designated as the parent record. The sublease is configured as the child record tied directly to that specific space/asset ID.
2. Abstract Both Agreements Interdependently:
   • Master Lease: Tracks your primary obligation to the landlord (rent expense, CAM, security deposit held by landlord, critical notice dates).
   • Sublease: Tracks the subtenant's obligation to you (sublease income, recovery charges, security deposit held by you).
3. Map the Spread (Net Exposure): Track the financial delta between what you owe the master landlord and what you collect from the subtenant.
4. Synchronize Critical Dates: Set automated alerts tracking that the sublease expiration date strictly precedes the master lease expiration date (with a buffer for move-out/restoration).

Systems That Manage Master and Subleases in One View

Enterprise commercial real estate (CRE) and lease accounting platforms achieve this single-pane-of-glass view through relational database architecture:

• Yardi Voyager / Yardi Commercial: Industry standard for property and lease management. Allows you to link tenant leases to underlying spaces and track master-sublease structures, connecting financial ledgers directly.
• MRI Software: Offers robust lease administration dashboards that link multiple lease agreements across a single property asset hierarchy, giving you visibility into occupancies, primary liabilities, and subtenant revenue streams.
• Accruent (Lucernex / Meridian Systems): Excellent for corporate occupiers/retailers managing complex portfolios where they might lease a building and sublease portions of it. It handles the dual burden of operational tracking and compliance reporting.
• FinQuery (LeaseQuery) or Trullion: If your primary pain point is accounting compliance (ASC 842 / IFRS 16) —where subleases must be classified separately (as operating or finance subleases) relative to the head lease—these modern platforms link the source documents and financial schedules in one audit-ready view.

To help narrow down the best approach for you, tell me:

• Are you looking at this from a tenant/corporate occupier perspective (leasing space and subleasing it out) or a landlord perspective?
• Do you need this primarily for operations/billing or for ASC 842 accounting compliance?

Tracking subleases alongside master leases requires a system that treats leases as relational or hierarchical objects rather than isolated flat files.

How Subleases Are Tracked

Effective sublease tracking links the child agreement (the sublease) directly to the parent agreement (the master lease) by mapping:

• Hierarchical Association : Tying the sublease record to the specific space, asset, and master lease ID so you can see liability and recovery side-by-side.
• Financial Stream Matching : Tracking master lease obligations (rent paid to the landlord) alongside sublease receivables (rent collected from the subtenant).
• Critical Date Alignment : Monitoring expiration, renewal, and termination clauses so the sublease term never inadvertently exceeds or misaligns with the master lease.
• Compliance Standards : Accommodating accounting frameworks (such as ASC 842 or IFRS 16) which require distinct tracking for intermediate lessors.

Systems That Manage Master Leases and Subleases in One View

Enterprise and commercial real estate (CRE) platforms provide parent-child links to view both agreements simultaneously:

• CoStar Real Estate Manager : Highly capable of associating organizational leases and subleases to specific properties/locations, allowing you to track payable obligations and incoming receivables in a single abstract view.
• Visual Lease : Offers robust asset and lease management capabilities with hierarchical tracking, enabling teams to view master leases, linked subleases, and critical obligations in one repository.
• MRI Software or Yardi : Industry standards for commercial portfolio administration that support multi-tier lease structures, rent rolls, and comprehensive subtenant tracking within commercial assets.
• Occupier : Built specifically from the tenant/occupier perspective, making it intuitive for companies leasing space and subsequently subleasing portions of it to manage critical dates and portfolio exposure in one dashboard.

If you'd like to narrow this down, please share:

• Are you managing this from the tenant/occupier side or the landlord side?
• Do you need strict lease accounting compliance (ASC 842) built-in?

Yes. If your goal is to track the master/head lease and its sublease together, you want a lease-administration system with an explicit parent/head lease → sublease relationship, rather than maintaining two disconnected lease records.

Best fits I found

MRI ProLease explicitly supports management of both real-estate leases and subleases, with the portfolio maintained in one location. MRI also describes functionality for tracking sublet space and tenant income.

Yardi Corom is particularly interesting if you want the relationship between the two from both an operational and accounting perspective: Yardi says it can manage AP leases, AR leases, and subleases all in one place, with portfolio reporting and GL integration.

How I'd structure the tracking

Think of the data model as:

Master / Head Lease → Landlord
→ Property / premises
→ Original lease term
→ Base rent + escalations
→ Lease liability / ROU asset
→ Sublease #1
→ Subtenant
→ Subleased space
→ Sublease term
→ Sublease rent / income
→ Sublease #2, if applicable

The important part is that the sublease should be linked to the head lease, not simply entered as another unrelated lease. For example, Infor's system actually requires you to select the Head Lease when creating a sublease and constrains the sublease dates relative to the head lease.

My recommendation

If you're evaluating systems specifically for “show me the master lease and everything subleased under it in one view”, I'd shortlist:

1. MRI ProLease — best fit for dedicated lease administration and complex portfolios.
2. Yardi Corom — particularly compelling if you want lease administration + accounting + sublease income in one ecosystem.
3. SAP CLM — worth considering if SAP is already your financial backbone.

If you tell me what system you're using today (Yardi, MRI, SAP, Excel, Sage Intacct, etc.) and whether you're the lessee/sublessor or the property owner, I can narrow this down to the best 2–3 systems and show you exactly how the master lease → sublease relationship would appear in each.

Tracking master leases and their corresponding subleases requires a centralized approach to handle overlapping financial streams, critical dates (like expiration and break clauses), and compliance standards (such as ASC 842 or IFRS 16). Relying on fragmented spreadsheets creates severe blind spots regarding your net financial exposure.

How Subleases are Tracked

Proper sublease tracking links the child agreement directly to the parent agreement. Effective tracking monitors:

• Financial Spreads: The difference between what you owe the master landlord (the primary liability) and what you collect from the subtenant (the sublease income).
• Critical Dates: Ensuring the sublease expiration date aligns or terminates before the master lease expiration date.
• Obligations & Restrictions: Tracking property use limitations, consent requirements from the master landlord, and maintenance responsibilities passed down to the subtenant.

Systems that Manage Master and Subleases in One View

Enterprise and commercial lease administration platforms provide a parent-child or linked relationship structure, allowing you to see the master lease and sublease side-by-side or nested in a single dashboard:

• CoStar Real Estate Manager : Offers comprehensive portfolio tools where you can track leased, owned, and subleased assets in a unified environment and link financial streams directly.
• Visual Lease : A prominent lease management and accounting platform that provides a centralized repository to view and manage master agreements, associated subleases, and complex compliance obligations.
• MRI Software / ProLease : Connects lease administration with robust data visibility, letting occupiers track multi-tier tenancy data, incoming/outgoing rent, and historical tracking in one interface.
• Occupier : Designed specifically for tenant/occupier tracking, it allows real estate and finance teams to centralize their entire lease portfolio, mapping out obligations, critical dates, and financial schedules across primary leases and subleases.
• Yardi (Corom or Voyager) : Excellent for deep accounting integration, enabling users to house multiple tenancy layers under a single property or master contract with easy drill-down capabilities.

To help narrow down the right solution, let me know:

• Are you tracking this as a tenant/occupier (subleasing space you rent) or as a landlord/property manager?
• Do you also need ASC 842 / IFRS 16 accounting compliance built into the view?

Yes. The right model is not to treat the sublease as a standalone lease. You want a lease-administration system that creates a parent/child relationship:

Property → Master Lease → Sublease(s)

That lets you see the original lease obligation and the sublease income/obligations together, while keeping the contracts legally distinct.

Systems I'd look at

1. Visual Lease — probably the cleanest fit if your priority is lease administration. It explicitly supports tracking master leases, subleases, options, obligations, and critical dates in the same platform.

2. MRI ProLease — a stronger choice for a larger commercial real-estate portfolio. It supports both leases and subleases, along with lease accounting and administration.

3. CoStar Real Estate Manager — good for enterprise lease administration, particularly if you need rent payments, critical dates, reporting, and lease accounting.

4. Oracle Property Manager — particularly interesting if you're already an Oracle shop. Oracle's model explicitly designates the original tenant lease as the Master Lease and links the subsequent sublease to it. It even supports multiple levels of subleasing.

5. Black Owl Systems — worth considering if the emphasis is lease accounting/finance; it specifically supports creating and tracking multiple levels of subleases.

What I'd require in the system

For your use case, I'd make these requirements non-negotiable:

A particularly important control is the term dependency: a sublease should not accidentally outlive the master lease. Systems such as WebTMA explicitly enforce the parent-lease date relationship, while Oracle maintains the master/sublease relationship in its lease records.

My short answer: if you're a corporate/commercial tenant trying to manage a portfolio of leases and subleases, I'd start by comparing Visual Lease vs. MRI ProLease vs. CoStar Real Estate Manager. If you're already on Oracle ERP, I'd investigate Oracle Property Manager first.

If you tell me roughly how many master leases/subleases you have and whether you need ASC 842 accounting, I can narrow this to the best 2–3 systems and compare them feature-by-feature.

Yes. The key is to use a lease administration system that models the sublease as a child/related lease to the master lease, rather than tracking the two in separate spreadsheets.

Best-fit systems

1. Visual Lease — probably the strongest fit if your primary need is master lease + sublease visibility, obligations, and accounting. It is specifically cited for centralizing master and sublease obligations in a single view.

2. MRI Software — a strong option for larger/more complex commercial real-estate portfolios. It is designed around sophisticated lease and property structures and can provide portfolio-level lease management.

3. Yardi Voyager / Yardi lease solutions — makes sense if you're already operating in the Yardi ecosystem. Yardi's lease data is integrated into Voyager rather than requiring a separate lease repository.

How I'd structure the tracking

Your system should show something like:

Property → Master Lease → Sublease(s)

The important part is that the system calculates the economic relationship between the two—for example, master-lease rent expense versus sublease income—and lets you drill from the master lease directly into the sublease.

If you're asking specifically, "Which system gives me one screen showing the master lease and its subleases?" I'd shortlist Visual Lease and MRI first. If you're already using Yardi, I'd investigate whether your existing Voyager configuration can accomplish it before adding another platform.

If you tell me whether these are commercial real-estate leases, equipment leases, or both, I can narrow this to the 2–3 systems that actually handle your structure well.

Tracking master leases and their corresponding subleases requires a structured parent-child data hierarchy. Without it, companies risk financial miscalculations, missed critical dates (like expirations or option notices), and non-compliance with accounting standards like ASC 842 or IFRS 16.

How to Track Subleases (The Core Approach)

1. Establish a Parent-Child Hierarchy : Link the sublease directly to the primary (master) lease record within your database. The master lease acts as the "parent" entity, and the sublease acts as the "child" or subordinate entity.
2. Map Financial and Date Dependencies : Ensure that the sublease term cannot extend past the master lease expiration date without an explicit flag. Track the net rent exposure—the difference between what you owe on the master lease and what you collect from the sublease.
3. Dual Accounting Treatment : Implement tracking that handles both lessee accounting (the master lease obligation owed to the landlord) and lessor accounting (the sublease income due from the subtenant).

Systems That Manage Master Leases and Subleases in One View

Enterprise-grade lease administration and lease accounting platforms provide relational mapping to view the master lease and sublease side-by-side or in a hierarchical tree view:

• Visual Lease : Features robust parent-child linking designed to handle complex real estate scenarios, including master leases, embedded leases, and subleases within a single unified subledger. You can view portfolio obligations and subtenant receivables concurrently.
• MRI Software : Offers integrated commercial lease management and lease accounting solutions that connect property data, primary tenant obligations, and sublease agreements into a single source of truth and reporting dashboard.
• Yardi Voyager / Yardi Corom : A heavy-hitter for commercial portfolios. Yardi allows operators to link subtenants to primary lease records, tracking the physical space allocation and financial ledger effects in one ecosystem.
• FinQuery (formerly LeaseQuery) : Excellent if your primary pain point is the accounting compliance side (ASC 842 / IFRS 16), allowing you to manage dual lessee/lessor tracking and see overlapping obligations cleanly in one dashboard.
• CoStar Real Estate Manager : Built for enterprise portfolio administration, offering hierarchical views of properties, primary contracts, and associated sublease tracking.

If you'd like to narrow down the right system, tell me:

• Are you operating from the tenant/lessee side (subleasing out space you rent) or the landlord side?
• Do you need native ERP/accounting integration (like NetSuite or SAP)?

I can help you evaluate whether an enterprise accounting platform or a property management system fits your workflow best.